Fundstrat Managing Partner Tom Lee said institutional investors are selling recent winners in chip stocks to raise cash ahead of an upcoming SpaceX initial public offering that he valued at $75 billion.
According to NS3.AI, Lee described the rotation out of chip-stock leaders as a healthy consolidation rather than a sign that the broader rally is ending.
Lee said he expects the tech-led uptrend to continue despite the near-term selling tied to IPO-related cash needs.
Tom Lee Says Funds Are Selling Chip Winners to Raise Cash for a Potential $75 Billion SpaceX IPO
2026-06-12 23:43:15
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